Cryptocurrencies

Bitcoin Technical Analysis: Shorts Drop 41% in 60 Seconds

After a failed second attempt to break above, Bitcoin remains below the $8,450 resistance. Daily volume is currently hitting another all time high, just above $34 billion.

Screen Shot 2019-05-16 at 10.30.59 AM.png
Screen Shot 2019-05-16 at 10.32.31 AM.png

Short positions have dropped nearly 41% inside of 1 min. In other words, 1 person liquidated a ton of shorts. Strangely enough, it happened on an insignificant candle, and barely effected price at the time of execution.

Screen Shot 2019-05-16 at 10.31.50 AM.png

In today’s analysis I discuss what a drop in shorts might mean to the market, key areas to watch, where my buy orders are waiting and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

If you found this post informative, please:

upvote.gif

Open a free account on Binance here:
https://www.binance.com/?ref=16878853

Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here:
https://brave.com/wor485

YouTube: https://www.youtube.com/channel/UCJqGczdWE99ORopJ5ZUDauA
Twitter: https://twitter.com/workin2005
Facebook: https://www.facebook.com/Workin2005
Feature Image By: Saul Gravy

Related posts

Crypto Contest May 19: Newton

Markus Aarnio

Crypto Contest March 3: QLC Chain

Markus Aarnio

Can Litcoin $LTC be a leader?

heyimsnuffles
No comments yet